[Caihua News] Jiuxing Holdings (01836.HK) announced that it was informed by its main shareholder Cordwalner Bonaventure Inc. "CBI" that it had carried out a company restructuring "CBI restructuring" with a number of its shareholders on January 12, 2022. Accordingly, it repurchased certain of its own shares from these shareholders in consideration and in exchange for the transfer of a total of 88603621 shares of the Company by CBI to the selling shareholders (or their respective agents) on the same day.
Prior to the implementation of the CBI restructuring, the ultimate shareholders of CBI were composed of a number of current and former group directors, senior management and employees. The reorganisation enabled the current and former senior management and employees of the Group to hold corporate interests as direct shareholders of the company.
As a result of the restructuring of the company, CBI's stake in the company has been reduced from about 33.01% to 21.85%. It is no longer the controlling shareholder of the company, but remains the major shareholder and single largest shareholder of the company on January 13.